Wall Street analysts forecast that Dayforce (DAY) will report quarterly earnings of $0.56 per share in its upcoming release, pointing to a year-over-year increase of 30.2%. It is anticipated that revenues will amount to $477.63 million, exhibiting an increase of 10.7% compared to the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Dayforce metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Revenue- Recurring' to come in at $421.40 million. The estimate suggests a change of +10.1% year over year.
Analysts predict that the 'Revenue- Professional services and other' will reach $55.49 million. The estimate indicates a year-over-year change of +13.7%.
Analysts forecast 'Other recurring' to reach $15.12 million. The estimate suggests a change of -22.5% year over year.
The combined assessment of analysts suggests that 'Revenue- Total Cloud recurring' will likely reach $410.24 million. The estimate suggests a change of +13% year over year.
View all Key Company Metrics for Dayforce here>>>
Shares of Dayforce have demonstrated returns of +14% over the past month compared to the Zacks S&P 500 composite's +11.5% change. With a Zacks Rank #2 (Buy), DAY is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dayforce, Inc. (DAY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
